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HM King issues Order establishing Royal Fund for Fallen Servicemen.

Manama, Apr. 6 (BNA): His Majesty King Hamad bin Isa Al Khalifa issued Royal Order 16/2016 establishing the Royal Fund for Fallen Servicemen.

Clause 1 defined the meanings of "Fund, commission, fallen serviceman, fallen civilian, body, director".

Clause 2 stipulated that the Royal Fund for Fallen Servicemen would be affiliated to the Royal Court and under the supervision of a supreme commission presided over by HRH the Crown Prince.

Clause 3 stipulated the funds disbursement of compensation, benefits and entitlements of a martyr to those eligible upon a resolution from the Fund's supreme commission.

Clause 4 stipulated the Fund's management, including chairman, deputy chairman and seven members whose appointment and term is decided by a resolution of the chairman of the commission. The clause also stipulated the commission's prerogatives to achieve its purposes, including the fund's general policy of management and investment, regulation to implement its purposes, organizational structure, work procedures rules and regulations, annual budget and final account, periodic reports by the director of its administrative body.

Clause 5 stipulated the formation of the fund management body during the commission's first meeting comprising administrative and financial experts to manage the fund's affairs. The clause also stipulated the responsibility of the director for the fund's work procedures, including implementation of its decisions, offering the necessary proposals to achieve the fund's objectives and purposes, technical, administrative and financial affairs of the fund and follow up of its work procedures, submission of periodic reports to the commission, and any other business tasked by the commission.

Clause 6 stipulated the fund's independent budget, including its revenue and expenditures, the beginning of the financial year and its end as per the beginning and end of the State financial year. The clause also stipulated the moneys allocated by the Royal Court for the fund, gifts, grants, inheritance, wills, endowments approved by the commission, plus other additional sources as shall be decided by the commission, the opening of a special bank account for the fund moneys in one of the banks, seeing to it that the surplus of this account shall be carried forward to the budget of the following year.

Clause 7 stipulated the body's director submission of the annual report to the supreme commission, including the results of the fund's business, final accounts, proposals necessary to develop the fund and also defining the impedances to the fund's performance and the suggested solutions to avoid them.

Clause 8 stipulated that the Royal Order becomes effective and enforceable as from the date of its issuance, and shall be published in the Official Gazette.

I.Y

BNA 1147 GMT 2016/04/06

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Publication:Bahrain News Agency
Date:Apr 6, 2016
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